Are Caterham in financial trouble?
Discussion
No Idea about the finical state however, when Graham Nearn ran Caterham it was a family business flexible and innovative, it allowed for a comfortable living its a niche car with a considerable history, taking this product to compete with the likes of Renault, Lotus, Ferrari etc would take industrial buckets of cash. Ansar has a good idea and product (Zenos) understands its niche and will probably do very well, I have to say having had an encounter with Ansar I know l would want to do business with him again.
I hope Caterham survives along with the 7 but anything else to be honest I couldn't be bothered
I hope Caterham survives along with the 7 but anything else to be honest I couldn't be bothered
This is probably related to the Caterham F1 team rumoured to have a few financial worries at the moment, Caterham Cars and Caterham F1 are not connected financially.
Caterham Group now consists of Caterham Cars, Caterham Technology & Innovation and Caterham Composites; the F1 team is now run by an unconnected consortium of Middle Eastern and Swiss investors, following its sale earlier this year.
While the Caterham F1 Team never reached its full potential, the other arms of Caterham Group – Caterham Cars, Caterham Technology & Innovation (CTI) and Caterham Composites – have continued to develop and flourish.
The order book for Caterham Cars is full until May 2015, with the Company having to ramp up production to satisfy increasing and unprecedented global demand for the legendary Seven.
Don't worry I have a deposit with Caterham Cars too!
Caterham Group now consists of Caterham Cars, Caterham Technology & Innovation and Caterham Composites; the F1 team is now run by an unconnected consortium of Middle Eastern and Swiss investors, following its sale earlier this year.
While the Caterham F1 Team never reached its full potential, the other arms of Caterham Group – Caterham Cars, Caterham Technology & Innovation (CTI) and Caterham Composites – have continued to develop and flourish.
The order book for Caterham Cars is full until May 2015, with the Company having to ramp up production to satisfy increasing and unprecedented global demand for the legendary Seven.
Don't worry I have a deposit with Caterham Cars too!
Buds said:
This is probably related to the Caterham F1 team rumoured to have a few financial worries at the moment, Caterham Cars and Caterham F1 are not connected financially....
Agreed but its rumoured that the 'old' Caterham F1 team left behind lots of unpaid bills, has CCJs against it etc. Doesn't fill me with confidence - I'd be more comfortable if Caterham Cars was owned by someone like Ansar Ali. LB14 said:
Buds said:
This is probably related to the Caterham F1 team rumoured to have a few financial worries at the moment, Caterham Cars and Caterham F1 are not connected financially....
Agreed but its rumoured that the 'old' Caterham F1 team left behind lots of unpaid bills, has CCJs against it etc. Doesn't fill me with confidence - I'd be more comfortable if Caterham Cars was owned by someone like Ansar Ali. Buds said:
This is probably related to the Caterham F1 team rumoured to have a few financial worries at the moment, Caterham Cars and Caterham F1 are not connected financially.
Not to do with F1 but with Caterham Cars. I have heard a few things through the grapevine and wondered if anyone else had.CycleSi said:
In my industry, when a company is out of stock for as long as Caterham Parts seem to be, it is for one main reason - that they cannot pay their bills !!!
Interpret that as you will.....
But haven't they been like that for years? Interpret that as you will.....
The thing is, they seem to have a lengthening, six or seven month waiting list for new kits and cars. I just can't see how a company with a product like they have and such a demand being in serious trouble.
If the group or owners are in the st, selling the company would be an easy way out, the buyers would be queuing up.
Toaster said:
I have to say having had an encounter with Ansar I know l would want to do business with him again.
Well, for some balance, I've had a direct encounter with him as well, and his offer to sort out my issue with their product providing I signed a confidentiality agreement and did not discuss it with any other owners, means I would definitely NOT want to do business with him again! There last posted accounts show quite a substantial balance sheet and they have a history of both making a profit some years and a loss in others. Their wage bill in 2012 is almost twice what it was in 2008. I don't think I'd worry if I had put a deposit down on a car, but I might worry a bit more if I was an employee.
They certainly don't seem to be struggling in my dealings with them - about once a month at the moment.
They certainly don't seem to be struggling in my dealings with them - about once a month at the moment.
Caterham make 500 cars a year and are currently trying to increase production from 10 cars a week to 13. They have a waiting list of 6 to 7 months, - I placed an order mid Sept and am due for build early April 2015. That means there are more than 250 orders ahead of me. They have parts shortage as they rely on 3rd parties for many components as they dont produce it all in-house.
I dont get a feeling from that that I should be worried.
I dont get a feeling from that that I should be worried.
REALIST123 said:
LB14 said:
Buds said:
This is probably related to the Caterham F1 team rumoured to have a few financial worries at the moment, Caterham Cars and Caterham F1 are not connected financially....
Agreed but its rumoured that the 'old' Caterham F1 team left behind lots of unpaid bills, has CCJs against it etc. Doesn't fill me with confidence - I'd be more comfortable if Caterham Cars was owned by someone like Ansar Ali. Its also very apparent that there were unpaid debts that were covered up during the sale that the new owners have found.
As I said, would not trust him as far as I can throw him. If he gets bored of caterham as he did the F1 team who knows what will happen.
Crafty_ said:
REALIST123 said:
LB14 said:
Buds said:
This is probably related to the Caterham F1 team rumoured to have a few financial worries at the moment, Caterham Cars and Caterham F1 are not connected financially....
Agreed but its rumoured that the 'old' Caterham F1 team left behind lots of unpaid bills, has CCJs against it etc. Doesn't fill me with confidence - I'd be more comfortable if Caterham Cars was owned by someone like Ansar Ali. Its also very apparent that there were unpaid debts that were covered up during the sale that the new owners have found.
As I said, would not trust him as far as I can throw him. If he gets bored of caterham as he did the F1 team who knows what will happen.
if you were putting 40plus million of your own cash into a team that scored no points wouldnt you be a bit peeved, yes frank has been around from the start and its great to see them back on form finally, but they started when it was still possible to come and compete against the big boys.
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